Topic: [ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE - page 11. (Read 64008 times)

If you mind in their pool, you get coins which you can spend on their store and get gift cards. 300MH/s mining for 8 hours from the start of the pool got me 30MID so I am almost at a $10 master card gift card.

Thanks that did it, its sycn now

Try adding the following nodes to get the wallet to sync:

node1.midascoin.io
node2.midascoin.io
node3.midascoin.io
node4.midascoin.io
node5.midascoin.io
node6.midascoin.io
node7.midascoin.io
node8.midascoin.io
node9.midascoin.io

Just downloaded the new wallet, but it won't sync.

its saying: No block source available

If you are using the version 80701, you should upgrade your wallet/daemon ASAP

https://github.com/MidasPaymentLTD/midascoin/


DEVELOPMENT STATUS:

Completed:

- Mining profit api patch.

- Block confirmation on Midaspool.

- Source code and wallet update to version 80702

- Enhanced Pool stability.


To Do:

- Expected shares on Midaspool.com dashboard show a value higher then intended.

- Other minor reporting glitch on Midaspool.com

- Restart community support and helpdesk




#Midascoin is the currncy that you can mine for years!

Torn over to call this a scam.  They haven't actually lied. Yet.  I don't think there is any gold now. If they actually want to get rich and not just go crazy for a couple weeks with Albanian whores and cheap booze in Bulgaria then they'll take all that LiteCoin and convert into gold and follow the plan in the OP.

Unfortunately most altcoin scammers go for the quick buck and vanish, i.e. there will soon be some Albanian whores who can't sit down for a week.

I think their idea is great; if they scam out I hope some other group of devs takes the concept and goes big with it.

It always seems like the best altcoin ideas get posted up to BTC by crooks because real devs are too cautious or lack the imagination to try new stuff.

They have funds to keep up their part of the bargain

well i mine midas from block 1 and so far i have confirmed coins, so i think there is no issue in that part

Actually, it is simple:  If you mine at their pool, they will eventually (if you believe them) send you prepaid MasterCards and/or gold (worth twice as much as anyone else is paying).

That is all there is to this.  Everything else is pretty pictures and fancy wording.
 
The question is "Do you believe them?"

oops - sorry - 200 blocks. on my pools I let people have them after 120 blocks...

Devs. How are you going to buy "a minimum daily increment of 333 grams" once you dont have the hashrate to mine other coins at huge profits?  Give it three days and your pool will be a ghost town.... then what?

lol 2000 blocks but only 341 block is mined so far, plus i got confirmed coins

it's been about 2000 blocks since I found coins and they're still not confirmed - it looks like these guys don;t want to give up any coins... LOL

assuming you believe the devs, you MID is worth exactly .002992 btc right now since each MID is worth 22k satoshi... and since the faith in the devs in questionsable, I would say they are worth less RIGHT NOW, in other words you are doing it wrong..

From the Terms and Conditions on the "Prepaid Financial Services" website:
"Your Card is not a credit card and is not issued by a bank."
Cards are available in UK pound, Euro, USD, SA Rand and AUD.
Fees: ATM withdrawal fee inside UK min $2 max $7.50. Outside UK min $4, max $10
Over the counter cash advance fee $12
Query made to customer service $1.50
Transfer to bank account: in UK $7, International $12
Monthly service charge $2
Monthly inactivity fee $5
Foreign exchange mark-up 3%
Cancellation fee/administration fee $20.
In other words - "Prepaid Financial Services" will retain a large part of your payout before you can even access your funds
and if you make the mistake of forgetting to use your pre-paid card for some time then it is sucked dry by monthly fees.
This is the same complaint that many low wage workers have for their employers are switching to the "cheaper" (for them) services of
issuing pre-paid cards instead of checks that can be deposited in a bank account for *free*, while the pre-paid cards come with
a large amount of hidden fees that cause their use to be excessively costly and a large chunk of low wage salaries flow back to
the card issuers from all the fees levied on those cards. Comments on this practice are in the order of "illegal practices for stealing
from poor people; illegally forcing them to use expensive pre-paid cards".
Not really the type of business that I would like to voluntarily be associated with if I would design a payment system for a coin....
I may be mistaken about the fees, please educate me - this is the best info that I could find on the confusing website of this company.

they have released their source code so I could add a pool on my site, but to be honest - there's something that just doesn't sit well with me about this coin yet...

though I will keep an open mind. I mined about 50 coins this morning before switching back to conventional coins - we shall see.

It's simple.

Either you WANT to make money, or NOT.

It's not rocket science, ffs.

What is the point of PoW mining if 1 pool controls all block generation and all transaction confirmation?  For that matter, why do you even need a block chain if the design of the coin is to be centrally controlled?

The whole point of PoW and block chains is to create an exchange between untrusted partners with decentralized confirmation by consensus through PoW.  This entire project seems to rely on trust in a single mining pool and a single source of transaction confirmation.

Trolls will always find something to feed on

Almost as bad, a mail-forwarding service:
http://www.londonpresence.com/